Construct · 1 fields · 1 citations

Bulow-Klemperer theorem: a standalone construct

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Mechanism design

result that a simple auction with one extra bidder earns more expected revenue than the optimal mechanism with the original number of bidders.

In mechanism design, Bulow-Klemperer theorem refers to result that a simple auction with one extra bidder earns more expected revenue than the optimal mechanism with the original number of bidders. This meaning comes from Bulow (1994) in Auctions vs. Negotiations.[1]

Unit
Recovery means
Measured by

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Nearby constructs

mechanism4 fields · 4 citationsjingle · one word, four constructs number3 fields · 6 citationsjingle · one word, three constructs simple2 fields · 2 citationsjingle · one word, two constructs

References

Bulow, J., & Klemperer, P. (1994). Auctions vs. Negotiations. National Bureau of Economic Research. https://doi.org/10.3386/w4608

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